Davis Investment Partners LLC Buys Shares of 5,850 Genuine Parts (NYSE:GPC)

Davis Investment Partners LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 5,850 shares of the specialty retailer’s stock, valued at approximately $680,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GPC. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts during the 4th quarter valued at $29,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Genuine Parts during the 4th quarter valued at $33,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $123.29 on Thursday. The firm has a market cap of $17.11 billion, a PE ratio of 19.06 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a fifty day moving average price of $120.07 and a 200 day moving average price of $120.40.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s payout ratio is presently 67.65%.

Analyst Ratings Changes

GPC has been the subject of several research analyst reports. Truist Financial boosted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Evercore ISI decreased their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.